Covid-19 shaves off about US$6m from Burger King SA sale deal by Grand Parade

SOUTH AFRICA – Grand Parade Investments (GPI), the master franchise holder for Burger King in South Africa has announced the renegotiation of its terms of sale for its interest in Burger King South Africa (BKSA) and Grand Foods Meat Plant (GFMP) to private equity group, Emerging Capital Partners (ECP). Under the revised offer, the enterprise value for the transactions has fallen to R593 million (US$35.3m), split into R570 million (US$33.9m) for Burger King SA and R23 million (US$1.3m) for Grand Foods Meat Plant, reports Fin 24. This represents a 15% discount on…

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Emerging Capital Partners owned restaurant chain Artcaffe Group opens new outlet

KENYA – The Artcaffe Group, owned by US private equity firm Emerging Capital Partners (ECP) has opened its third restaurant in the country’s capital, Nairobi despite the COVID-19 pandemic which has especially slowed down operations in the food service sector. The new branch located in Chester House, Kimathi Street is part of the three new branches Artcaffe is set to open as part of its expansion plan, to further consolidate the group’s share in the country’s rapid growing fast food sector, reports Business Daily. The coffee chain has also set up a…

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